The Senate passed the Petroleum Bill that rules that gasoline prices will fluctuate with international fuel prices. President Mejía is expected to sign the bill into law next week. The Ministry of Industry & Commerce is in charge of setting prices every week depending on world market prices and the exchange rate fixed by the Central Bank. The new bill, if passed today, would mean a RD$1.20 increase in the price of unleaded premium gasoline (going from RD$39.80 to RD$41) and of 80 cents on the price of unleaded regular gasoline (will go up from RD$34.90 to RD$35.80). Diesel prices will increase from 22 to 27 pesos. The bill sets a fixed RD$18 tax on premium unleaded gasoline, RD$15.00 on unleaded regular gasoline, RD$5.00 on kerosene and RD$1.75 on aviation fuel (avtur). Neither propane gas or fuel oil (used by power plants) is taxed.
